Quest Merchant Bank has been appointed as Transaction Advisor for Project BRIDGE (Broadband Infrastructure Development for Digital Economy), a flagship national broadband initiative led by Dr. ‘Bosun Tijani, minister, Federal Ministry of Communications, Innovation and Digital Economy (FMCIDE).
Project BRIDGE is a strategic digital infrastructure initiative designed to significantly expand Nigeria’s fibre-optic infrastructure and accelerate broadband penetration across the country.
The project will deploy approximately 90,000 kilometres of open access fibre-optic cable, strengthen nationwide connectivity and enable inclusive digital and economic growth.
As Transaction Advisor, Quest Merchant Bank will support FMCIDE and the Project BRIDGE Project Implementation Unit in structuring and implementing the project’s financial and commercial framework.
The mandate includes developing bankable investment structures, supporting investor engagement, and designing the public–private partnership framework required to facilitate successful project execution and long-term sustainability.
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Commenting on the appointment, Afolabi Olorode, acting managing director/CEO Quest Merchant Bank, said:
“Project BRIDGE represents a critical step in strengthening Nigeria’s digital backbone and unlocking the immense opportunities within the country’s digital economy. We are honoured to partner with the FMCIDE under the leadership of Honourable Minister, Dr. ‘Bosun Tijani on this important initiative and look forward to applying our transaction advisory and infrastructure finance expertise to help deliver a robust and investable framework that will attract private capital and support long-term national development.”
Also speaking on the appointment, Yetunde Falore, head of Investment Banking, Quest Merchant Bank, said:
“Nigeria’s digital economy is entering a defining phase, and infrastructure initiatives such as Project BRIDGE will play a central role in expanding connectivity, deepening digital inclusion, and supporting sustainable economic growth. We align with the criticality of this project and are proud to bring in our expertise to help drive a timely, efficient and successful project delivery in our role as Transaction Advisor.
Project BRIDGE aligns strongly with His Excellency, President Bola Ahmed Tinubu’s Renewed Hope national transformation agenda, which prioritises the expansion of digital infrastructure, technology-driven productivity, and increased private-sector engagement in delivering critical national assets.
By accelerating broadband penetration and strengthening the country’s digital backbone, the initiative is expected to unlock significant opportunities across key sectors, including education, healthcare, agriculture, commerce, and the wider innovation ecosystem.
Under this appointment, Quest Merchant Bank will be supporting the Honourable Minister and the Project Implementation Team in structuring and delivering a financially robust Special Purpose Vehicle (SPV) by shortlisting qualified Private Sector participants to partner with the Nigerian Government (backed by World Bank, Africa Development Bank and European Bank for Reconstruction & Development) to deliver a world class private sector led, wholesale open Access Fibre Company. The project targets SPV set up and project break-ground by Q3 2026.
